Answers to your insurance questions

What is valuable records or valuable papers insurance? This is usually an "All Risk" form that pays for the cost of reconstructing and researching damaged records. Some examples would include documents that are valuable to your business such as medical reference books, documents of title, signed authorizations, law libraries and architectural drawings.

If you have this type of records and they are destroyed in a claim then it will be very expensive to restore the information. You can employ some Risk Management techniques to help protect this information. Duplication - make copies of the information and store it off site. If your records are scanned and on discs then this is more easily done than trying to duplicate a "ton" of paper. Separation - store your records in a location away from the rest of your operation. Insurance - have adequate insurance to pay for the recovery of valuable papers or documents that are damaged or loss and not duplicated or separated.

Review your situation carefully and discuss with your agent or broker. If your business is dependent on these records then you need to ask questions about the coverage you have. Take control of your insurance. Ask for help if you need it.